For about ten years, I owned a rental property in the Phoenix, Arizona, area.
The building included four rental units of varying sizes.
Over the years, I was quite conscientious about keeping up with repairs and renovations. I updated to Energy Star rated windows, automated door locks and security lights. I invested into a new roof, new HVAC system and water heaters. As tenants moved out, I replaced appliances, light fixtures and plumbing fixtures. I had the interior and exterior regularly painted and paid for lawn care. I noticed a steady decline in the integrity of my renters. In the beginning, I had tenants who planted flowers, cleaned the windows, swept the sidewalks and kept the place neat and tidy. By the end, my tenants left bags of garbage on the porch, litter in the grass and caused constant damage. They complained about everything, called me at all times of the day and night and were usually late with the rent. A few of my last renters quit paying altogether. I couldn’t keep up with the problems they caused and couldn’t tolerate the stress. I decided to sell the building. Listing the property led to all sorts of issues with the renters. The real estate agent had lots of suggestions that all involved me spending a ton of money. I got one offer that fell through when the bank denied lending. The bank required a new roof, even though the current roof was just fine. At that point, I’d had enough. I was no longer willing to live with the hassle of the tenants. I wanted to sell the property quickly and painlessly. I reached out to a local cash home buyer. They supplied a cash offer within twenty-four hours. The process was wonderfully straightforward. Having uncooperative renters was not a stumbling block. They accepted the property as-is and we closed in about a week.